REAL ESTATE SECTOR KEY TO NIGERIA’S $1 TRILLION ECONOMY AMBITION – AKINTUNDE

Femi Akintunde, Group Managing Director of Alpha Mead Group, has stated that Nigeria’s real estate sector has the potential to drive the Federal Government’s $1 trillion economy ambition through its significant contributions to GDP, job creation, and infrastructure development.

Speaking on the industry’s impact, Akintunde highlighted that the real estate sector recorded a 46.52% expansion, a 16.5% quarter-on-quarter growth rate, and contributed 5.43% to real GDP in Q3 2024, surpassing traditional economic powerhouses like oil & gas, telecommunications, and agriculture.

REAL ESTATE AS A GROWTH CATALYST

According to Akintunde, if the real estate industry is properly harnessed, it can play a vital role in Nigeria’s economic transformation. He noted that facility management is a critical component in sustaining this growth trajectory, ensuring urban and rural renewal, and maximizing tax contributions.“Trends in sustainability, cybersecurity, automation, workplace and home well-being, smart buildings, and artificial intelligence (AI) have expanded the role of facility management consultants. Developers must leverage facility managers’ expertise to maintain growth and ensure efficient property maintenance.”

CALL FOR PROFESSIONAL FACILITY MANAGEMENT

Akintunde cautioned real estate developers, stakeholders, and property owners against neglecting professional facility management, emphasizing that attempting to manage properties without expert input could result in:

✔ Poor tenant experience

✔ Increased legal disputes and complaints

✔ Unrealized utility projections

✔ Health and safety risks

✔ Structural deterioration and costly repairs

✔ Facility abandonment and low investment returns

He urged developers to engage professional facility management firms to optimize property value, ensure sustainability, and enhance investment yields.

ALPHA MEAD’S COMMITMENT TO REAL ESTATE GROWTH

As one of Africa’s leading facility management companies, Alpha Mead Group continues to scale its operations across Nigeria and the African region, offering integrated facility management and consultancy services. The company, certified to ISO 9001:2015 by UKAS, has provided quality facility management for over a decade, serving Fortune 100 companies across Africa and the Middle East. “At Alpha Mead, we are committed to supporting real estate growth by helping investors maximize their returns while enhancing user experiences,” Akintunde said.

With its expertise in facility management, Alpha Mead Group remains at the forefront of driving efficiency and sustainability in Nigeria’s real estate sector, positioning it as a key player in the country’s journey towards a $1 trillion economy.